EToro to Launch Cryptocurrency Offering in US Market

Alexander Lowe |Thursday, May 17, 2018

eToro planning cryptocurrency exchange

Guy Hirsch, who has recently been been appointed managing director of the broker's United States operation, said: "eToro empowers investors with a platform that gives them access to the assets they want, shared knowledge and ease of transaction".

Starting May 15, 2018, USA users can visit eToro.com to join the waiting list for the platform.

By now, the platform's community is estimated as totaling more than 9 million users worldwide who trade and invest in multiple assets in various categories, including cryptocurrencies. eToro is constantly adding more assets to its offering and currently this list of cryptocurrencies includes all of the most popular digital coins such as Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Dash, Litecoin (LTC), Ripple (XPR). The company is opening an office in New Jersey, says Assia. We see tremendous opportunities in the U.S. crypto space. The digital wallet, which will enable users to hold multiple cryptocurrencies, will be available on the Apple App Store and Google Play Store. The company says it has more than 10 million registered users across 140 countries in Europe, Asia, and Australia, with an accumulated capital funding of more than $162 million. But, really, eToro began getting involved in the crypto scene even earlier than that. Two years later, he co-wrote the Colored Coins white paper with Ethereum creator Vitalik Buterin. Etoro intends to integrate several more cryptocurrencies throughout 2018. It is important to mention that there is now a debate about blockchain platforms, cryptocurrencies and tokens and how to regulate them. At that point, "we started seeing a lot of our users flocking to cryptocurrencies", he said. He expects Etoro will list as many as 15 tokens by the end of the year, the news outlet conveyed, adding that the company also "plans to open a global wallet and exchange service later this year that is aimed at institutional traders". "They are interested today in cryptocurrencies more than they are interested in any other asset", Assia said. "Those features let users create a public profile of their investments, which in turn allows others on Etoro to track and copy their trading decisions".

US investors will have three ways that they can access the cryptocurrency markets: by manually investing in a coin; by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise; or by investing in a Crypto CopyFund which provides a diversified portfolio of major crypto assets. Cryptocurrency exchanges usually demand a rigorous verification process and require the installation of additional software together with an understanding of blockchain technology. "I think that it is an invention that is potentially as big as the internet and electricity, so one of the core big inventions of humanity", he said.

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